Advanta Corp A (ADVNA) Message Board

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Non-Tech : Advanta Corp A (ADVNA)

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To: Thorr who wrote (28)	6/3/1998 5:33:00 PM
From: felix	Read Replies (1) of 41

I see your point... However, on the positive side... the head guy owns around 30% of the company...probably the bulk of his net worth is Advanta stock, so the management should be highly incented to do the right thing for the stock... The stock itself is trading at book, so they don't have to perform miracles, just perform like a below-average mortgage lender for the stock to go to $30 (1.5xbook). Mortgage lending itself is a well- understood business...so they should be able to do OK for the shareholders at the current price. Anything better is a bonus. For example, if they perform like a good mortgage lender (a reasonably likely scenario) the stock is easily worth $40 (2xbook). Given the current price, the market assumes the worst, but I think average is more likely...and thus a 50% gain by year-end.

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